Complete Production Services, Inc. (NYSE:CPX) today reported second
quarter revenue of $552.0 million, an increase of 11% over the first
quarter of 2011, Adjusted EBITDA (as defined below) of $149.6 million,
an increase of 19% over the first quarter of 2011, operating income of
$100.1 million and net income of $54.5 million, or $0.69 per diluted
share.

Revenue for the Completion and Production Services segment during the
second quarter of 2011 was $491.9 million, an increase of $54.8 million
over the prior quarter. Increasing activity in service intensive oil and
liquid-rich plays and the deployment of new assets led to growth in all
major service lines and more than offset the seasonal impact of the
Canadian break-up and other weather related challenges. Adjusted EBITDA
for the segment was $144.9 million in the second quarter of 2011, up
$23.4 million versus the first quarter of 2011. Adjusted EBITDA margins
increased to 29.5% from 27.8% in the first quarter of 2011.

Drilling Services segment revenue was $52.2 million during the second
quarter of 2011, an increase of $2.1 million over the first quarter of
2011. Adjusted EBITDA for the segment increased $1.4 million to $13.9
million during the second quarter of 2011.

Compared to the second quarter of 2010, consolidated revenue increased
$191.7 million, or 53%, Adjusted EBITDA increased $64.3 million,
operating income increased $60.3 million, and net income increased by
$38.8 million, or $0.49 per diluted share.

"We delivered another quarter of solid financial performance," commented
Joe Winkler, Chairman and CEO. "In addition to achieving record revenue
and EBITDA while overcoming the impact of challenging weather conditions
in certain of our operating areas, during the second quarter we:

Completed a $15.6 million acquisition of a hydraulic snubbing and
production testing business with operations in the Marcellus and Eagle
Ford Shales;

Invested a total of $93.4 million in capital expenditures, which
included the deployment of four large-diameter extended-reach coiled
tubing spreads; and

Entered into a new five-year $300 million credit facility."

"Additionally, in early July we successfully deployed our third frac
spread in the Eagle Ford Shale and we divested our products business in
Southeast Asia for $19.3 million."

"We continue to invest in our business and execute key initiatives which
improve our competitive position and our focus on critical completion
and production services within the most active resource plays of North
America. The actions we are taking and our position in the markets we
serve will allow us to capitalize on activity levels that we believe
will remain strong through 2012," concluded Mr. Winkler.

Complete Production Services, Inc. is a leading oilfield service
provider focused on the completion and production phases of oil and gas
wells. The company has established a significant presence in
unconventional oil and gas plays in North America that it believes have
the highest potential for long-term growth.

Complete will hold a conference call to discuss second quarter 2011
results on Friday, July 22, 2011 at 11:00 a.m. Eastern Time. To
participate in the live conference call, dial (888) 268-4176 at least
ten minutes prior to the scheduled start of the call. When prompted,
provide the passcode: 51812750. The conference call will be available
for replay beginning at 2:00 p.m. Eastern Time on July 22, 2011, and
will be available until July 29, 2011. To access the conference call
replay, please call (888) 286-8010 and use the passcode: 28739479. The
call is also being webcast and can be accessed at our website at www.completeproduction.com.

The foregoing contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements are those
that do not state historical facts and are, therefore, inherently
subject to risk and uncertainties. These forward-looking statements
include statements regarding future market conditions and the company's
future success. Such statements are based on current expectations and
entail various risks and uncertainties that could cause actual results
to differ materially from those forward-looking statements. Such risks
and uncertainties include, among other things, risks associated with the
general nature of the oilfield service industry, the uncertainty of
near-term and long-term activity levels, general economic conditions in
the United States and globally, and other risks described in the
company's most recent annual report on Form 10-K and subsequent
quarterly reports on Form 10-Q. The company undertakes no obligation to
publicly update or revise any forward-looking statements to reflect
events or circumstances that may arise after the date of this press
release.

Management evaluates the performance of Complete's operating segments
using non-GAAP financial measures, including Adjusted EBITDA. Adjusted
EBITDA is calculated as net income from continuing operations before net
interest expense, taxes, depreciation, amortization, impairment charges
and non-controlling interest. Adjusted EBITDA is not a substitute for
GAAP measures of earnings and cash flow. Adjusted EBITDA is used in this
press release because our management considers this measure to be an
important supplemental measure of performance and believes it is used by
securities analysts, investors and other interested parties in the
evaluation of companies in our industry.